SBI Securities Co. Ltd. Purchases New Holdings in PDD Holdings Inc. (NASDAQ:PDD)

SBI Securities Co. Ltd. purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,694 shares of the company’s stock, valued at approximately $455,000.

Other large investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in PDD during the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC purchased a new position in PDD in the third quarter worth about $29,000. Nisa Investment Advisors LLC purchased a new position in PDD in the fourth quarter worth about $39,000. Brooklyn Investment Group raised its holdings in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after buying an additional 498 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PDD has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Jefferies Financial Group decreased their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Finally, Benchmark decreased their target price on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Stock Performance

Shares of PDD stock opened at $113.41 on Wednesday. The company has a 50 day moving average price of $109.38 and a 200-day moving average price of $112.66. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The firm has a market capitalization of $156.04 billion, a PE ratio of 11.08, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.